Gujarat Calls for Bids on 500 MW Wind-Solar Hybrid Projects

24 Feb 2024 CW Team

Following the recent awarding of contracts for Phase I projects to KPI Green Energy and Juniper Green Energy, GUVNL is moving swiftly to advance its renewable energy agenda. Interested parties have until March 13, 2024, to submit their bids, with bid openings scheduled for the following day.

Prospective bidders must adhere to stringent financial requirements, including a bid processing fee of ₹1.5 million ($18,083.07) and an earnest money deposit of ₹928,000 ($11,146)/MW of quoted capacity. Additionally, successful bidders will be required to furnish a performance bank guarantee equivalent to ₹2.32 million (~$27,866)/MW of allocated capacity before signing the power purchase agreement (PPA).

Eligibility criteria encompass various project statuses, including those under construction, not yet operational, or lacking a long-term PPA. However, projects must not have existing obligations under other state or central programs and should mitigate technology risks by employing established and operational technologies.

Bidders from countries sharing a border with India are eligible to participate, provided they are registered with the competent authority. Furthermore, financial stability is a prerequisite, with the bidder's net worth required to meet or exceed specified thresholds based on the project's solar PV and wind power components.

To ensure adherence to quality standards, only certified wind turbine models listed by the Ministry of New and Renewable Energy (MNRE) and solar modules approved by the MNRE will be permitted for use in the projects.

Successful bidders must finalize a PPA with GUVNL within 30 days of receiving the letter of intent or within 10 days of tariff adoption by the Gujarat Electricity Regulatory Commission, whichever is later.

With its latest tender, Gujarat reaffirms its commitment to renewable energy expansion, positioning itself as a frontrunner in India's transition towards sustainable power generation.

GUVNL's emphasis on technology reliability and financial stability underscores its dedication to facilitating the growth of renewable energy infrastructure, contributing to both environmental sustainability and energy security in the region.

The Gujarat Urja Vikas Nigam Limited (GUVNL) has launched Phase II of its ambitious renewable energy initiative, inviting bids for the procurement of power from 500 MW grid-connected wind-solar hybrid projects. This phase also includes the provision for expanding the capacity by an additional 500 MW through the greenshoe option, a move aimed at further bolstering Gujarat's renewable energy portfolio.Following the recent awarding of contracts for Phase I projects to KPI Green Energy and Juniper Green Energy, GUVNL is moving swiftly to advance its renewable energy agenda. Interested parties have until March 13, 2024, to submit their bids, with bid openings scheduled for the following day.Prospective bidders must adhere to stringent financial requirements, including a bid processing fee of ₹1.5 million ($18,083.07) and an earnest money deposit of ₹928,000 ($11,146)/MW of quoted capacity. Additionally, successful bidders will be required to furnish a performance bank guarantee equivalent to ₹2.32 million (~$27,866)/MW of allocated capacity before signing the power purchase agreement (PPA).Eligibility criteria encompass various project statuses, including those under construction, not yet operational, or lacking a long-term PPA. However, projects must not have existing obligations under other state or central programs and should mitigate technology risks by employing established and operational technologies.Bidders from countries sharing a border with India are eligible to participate, provided they are registered with the competent authority. Furthermore, financial stability is a prerequisite, with the bidder's net worth required to meet or exceed specified thresholds based on the project's solar PV and wind power components.To ensure adherence to quality standards, only certified wind turbine models listed by the Ministry of New and Renewable Energy (MNRE) and solar modules approved by the MNRE will be permitted for use in the projects.Successful bidders must finalize a PPA with GUVNL within 30 days of receiving the letter of intent or within 10 days of tariff adoption by the Gujarat Electricity Regulatory Commission, whichever is later.With its latest tender, Gujarat reaffirms its commitment to renewable energy expansion, positioning itself as a frontrunner in India's transition towards sustainable power generation.GUVNL's emphasis on technology reliability and financial stability underscores its dedication to facilitating the growth of renewable energy infrastructure, contributing to both environmental sustainability and energy security in the region.

Building Material

07 May 2026

Berger Paints Launches School Cooling Initiative in North India

Berger Paints India has launched a school cooling initiative across 30 government schools in Uttar Pradesh and Rajasthan as part of its efforts to promote heat-reflective coating solutions amid rising summer temperatures.The initiative, implemented in partnership with Smile Foundation, involves the application of heat-reflective coatings from Berger Paints’ Kool range to help reduce heat absorption and improve indoor comfort in classrooms. The company stated that the intervention aims to create cooler learning environments, support student well-being, and improve attendance during peak summe..

Resources

07 May 2026

Thailand Approves $29 Billion Investment Push

Thailand has approved investment proposals worth nearly USD 29 billion (around 958 billion baht), led by major data centre and digital infrastructure projects, as the country strengthens its position as a regional technology and AI hub.The approvals were cleared by Thailand’s Board of Investment (BOI), chaired by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas. The largest approved proposal is from TikTok System Thailand, involving an investment of around USD 25 billion to expand servers, storage and data-processing infrastructure across Bangkok, Samut Prakan and Chachoengsa..

Real Estate

07 May 2026

Alpha Corp Acquires Earth Infra Projects Through NCLT Resolution

Alpha Corp Development has acquired three stalled projects of Earth Infrastructures Limited through the National Company Law Tribunal (NCLT) resolution process, following a Supreme Court judgment restoring the company’s resolution plan under the Insolvency and Bankruptcy Code (IBC).The projects include commercial developments Earth TechOne and Earth Sapphire Court in Greater Noida, along with the residential project Earth Copia in Gurugram. The development is expected to provide relief to more than 3,000 homebuyers and commercial-space buyers affected by delays spanning over a decade.The Sup..